Cascadero Signs Option Agreement With OZ Minerals Ltd.

Cascadero Copper Corporation (TSX VENTURE:CCD) - 

Salta Exploraciones S.A. (Salta), Cascadero's 50% owned Argentine subsidiary,
has entered into an Option Agreement with OZ Minerals Ltd of Australia. The
Option agreement enables OZ to earn up to a 75% interest in Salta's 100% owned
and optioned Centenarito group of claims by incurring US$20 million of
exploration and paying US$650,000 in cash before June 2017.


The First Option, enables OZ to earn a 51% interest in the Property by
completing an exploration program, at its discretion, which includes 3,000
metres of core drilling and paying US$350,000 over two (2) years. During the
First Option period, the exploration program will be supported by Salta under a
Services Agreement with OZ.


The Second Option, enables OZ to earn an additional 24% interest for a total of
75% in the Property by completing an exploration program under JORC or NI-43-101
guidelines by spending US$20 million and paying US$300,000 over three (3) years.
If OZ exercises the Second Option, Salta and OZ will enter a pro- rata industry
standard Joint Venture to continue developing the Property.


The Property is located in Salta Province to the south of Santa Rosa de los
Pastos Grandes, approximately 200 km west of Salta City, a two and one-half hour
drive from San Antonio de los Cobres. The Property is road accessible.


CENTENARITO SHORT HISTORY and GEOLOGY

The Property was explored by Fabricaciones Militares in 1970s. The zone of
interest outcrops and is marked by a prominent high-sulphidation zone with
leached cap alteration assemblages. This alteration is believed related to an
underlying gold-copper bearing porphyry system. The principal work on the
Property consists of trenching and geochemical sampling. The Property has not
been drill tested.


Centenarito is part of a north-south trend of alteration and mineralization
related to intrusive rocks hosted by Ordovician sediments. The northern
expression of this trend is represented by the well known Cerro Juncal porphyry.
Also related to this N-S regional metalogenetic lineament is the Vicuna Muerto
porphyry to the south-east. Mineralization occurs in breccias and intrusive
stocks, which are part of the Oire group eruptive. The analogue properties in
the area are Cerro Juncal, Inca Viejo, Incachule and Incamayo. These properties
all have strongly altered diorite, dacite and granite with potential to host
porphyry copper-gold deposits.


Exploration is expected get under way in September 2012.

ABOUT OZ MINERALS

OZ Minerals owns and operates the Prominent Hill open pit mine copper-gold mine,
a newly developed underground mine, a grinding and flotation processing plant
with an 8 mtpa capacity, a permanent village and a haulage road, power line and
bore field. Prominent Hill is a fly-in/fly-out operation employing approximately
1,200 employees and contractors. The mine is located in a remote area about 130
kms south-east of the town of Coober Pedy in South Australia.


Prominent Hill produces some of the world's highest-grade copper concentrates.
These concentrates travel directly to customers including smelters in Asia and
Europe via the Adelaide to Darwin railway (which passes within 116 kms of the
Prominent Hill mine) to the Port of Darwin or the Port of Adelaide and then via
ship to the waiting smelters. First production of Prominent Hill copper
concentrates occurred in February 2009.


In its first full year of production in 2010 Prominent Hill exceeded
expectations producing 112,171 tonnes of contained copper and 196,400 ounces of
gold. In 2011, copper production of 107,744 tonnes and gold production of
160,007 ounces were in line with guidance of 100,000 tonnes to 110,000 tonnes of
contained copper and 150,000 ounces to 160,000 ounces of gold.


OZ is a publically listed Australian company and trades at A$8.00 under the
symbol OXR with a market cap of about $3 billion. The Company has an excellent
exploration staff and a solid balance sheet.


ABOUT CASCADERO COPPER

Cascadero Copper is an integrated prospecting and mineral exploration business
with offices in North Vancouver, BC, Canada, Sudbury, Ontario, Canada and Salta
City in the province of Salta, Republic of Argentina. The Company generates,
acquires and explores mineral properties and it active in the three
jurisdictions.


In north central British Columbia, the Company has a 100% interest in a 31,000
hectare property in the Toodoggone region, which is prospective for copper gold
porphyry systems. This property is subject to a C$20 million Joint Venture with
Gold Fields.


In Ontario, the Company holds or has the right to acquire a 100% in 17
properties in the Sudbury, Swayze and Timmins camps, which are volcanic and
sediment hosted copper gold prospects.


In north western Argentina, the Company holds a 50% interest in a 46 property
portfolio, which consists mainly of bulk mineable copper-moly-gold porphyries
and bulk mineable sediment hosted silver-gold plus base and rare metals.


In 2009, the Company discovered Taron, a large bulk mineable sediment hosted
epithermal rare metal deposit in Argentina. In 2011, Cascadero discovered Las
Burras, a new Argentine Cu-Mo-Au porphyry.


Cascadero's commodity focus is gold, silver, moly, copper and base and rare
metal hosted in large-scale bulk mineable mineral systems.


In 2012 to 2013, Cascadero intends to advance by drilling three Argentine
Cu-Mo-Au porphyry systems and continue development work in the El Oculto
District, which hosts high-grade bulk mineable silver-rich systems. Exploration
is also planned for Taron, an exciting large-scale sediment hosted rare metal
discovery.